This acquisition, together with the recently announced investment in a new NXT silane plant in Leverkusen, Germany, is part of Momentive's strategy to improve NXT silane availability and supply reliability for tire manufacturers globally, the Waterford, N.Y.-based company said.

Texas City-based Sea Lion will continue to manufacture NXT silane as an integrated part of Momentive's global supply chain, which comprises 24 other plants around the world, Momentive said.

"With increasing global demand for low rolling resistance tires, NXT silane products are being sought out for their ability to help improve tire performance while easily integrating with manufacturer's production methods," said Rich Owins, vice president of silanes.

"Producing NXT silane in the U.S., along with plans to bring on new capacity in Europe, will help Momentive ensure we can serve the needs of our customers no matter where their operations are located."

In February 2016, Momentive announced plans to invest approximately $30 million to expand its NXT silane manufacturing capacity in Leverkusen.

Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].